Demand Generation vs Lead Generation - Why do you need both?
Lead generation has always been a critical component of a good marketing strategy.
Salespeople are ready to pick up the phone, make those calls and follow-ups and close the sales to reach their targets.
Internet usage has grown exponentially in the last couple of years. Many businesses decided to invest in their online presence. Potential customers are now inundated with advertising, SMS, emails and calls, and it’s becoming increasingly harder to close potential leads and stay ahead of your competitors.
Digital Marketing has evolved, and with the infinite resources available on the internet, many companies have shifted their marketing strategy to a Demand Generation approach.
The final verdict
Lead generation on it's own won't feed you results if you don't also pay attention to the customers that are sitting at the top of your sales funnel. These are the people waiting for the holy grail that will fix their problems, or, people that didn’t know they had a problem at all. This is the perfect opportunity to create a demand generation strategy and pull in those prospects and lead them to the bottom of your sales funnel to solve their problems once and for all.
Demand Generation (Top of your sales funnel)
- Increase your brand authority
- Share thought leadership and expertise
- Educate your customers about your niche and products/service and potential pain points they may face
- Provide valuable content to your audience without friction
- Engage as many people as possible
Lead Generation (Bottom of your sales funnel)
- Capture your customers
- Discover your customer problem and provide them with a solution
- Deliver an excellent strategy to solve the issues and gather tangible insights
- Measure the effectiveness of your marketing efforts
Demand and Lead Generation are equally crucial to your brand’s marketing strategy. Using both requires you to think about your goals, your target audience and where they would be in your sales funnel, what resources you can allocate to which channels, making sure you can measure your results and lastly, experiment and adjust to what works best for your business. If you’re unsure how to create a killer demand generation and lead generation strategy, let’s talk!